The United States would raise tariffs on Chinese imports if no deal is reached with Beijing to end a trade war, US President Donald Trump said on Tuesday, threatening an escalation of the spat that has damaged economic growth worldwide.
Brazil will not get involved in a trade war, President Jair Bolsonaro said on Thursday, after US-foes China and Russia criticized growing protectionism as the global economy slows. Bolsonaro, who has been walking a diplomatic tightrope at the BRICS summit in Brazil this week as he seeks to strengthen ties with China without upsetting key ally Donald Trump, said Brazil “trades with the entire world.”
Brazil's President Jair Bolsonaro will walk a diplomatic tightrope on Wednesday when he hosts his Chinese counterpart, as he seeks to boost ties with Beijing and avoid upsetting key ally Donald Trump.
President Donald Trump on Tuesday took credit for an American economic renaissance but was greeted by another salvo from US industries that blame his trade wars for jeopardizing employment, wounding business and burdening consumers with higher costs.
China and the United States have agreed to roll back tariffs on each others' goods as part of the first phase of a trade deal, officials from both sides said on Thursday offering a new sign of progress despite ongoing divisions about the months-long dispute.
The United States and China are working to narrow their differences enough to sign a “phase one” trade deal as early as this month, but suggestions for a signing venue range from Alaska to Greece.
President Xi Jinping on Tuesday pledged to further open China's economy, declaring the world must “tear down walls” as he opened an annual trade fair in Shanghai.
Chile has withdrawn as host of the Asia Pacific Economic Cooperation (APEC) trade summit in November and the COP25 climate conference in December after several weeks of violent unrest, President Sebastian Piñera announced on Wednesday. He described the decision as “deeply painful” but “common sense” dictated the decision to withdraw from the two major international summits.
There are many factors that affect the value of currencies and influence the flow of foreign exchange, but few have a more significant impact than a trade war.
US President Donald Trump on Monday said progress in developing the text of a partial trade pact with China means he will likely be able to sign it next month. Trump remains upbeat on the chances Beijing and Washington will seal the mini-deal he announced earlier this month - marking a cooling-off period in the two nations' damaging trade war.